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China's July CPI rose 2.7% year-on-year

Aug 22, 2020

On August 10, according to the official website of the National Bureau of Statistics, in July, the national CPI (Consumer Price Index) changed from a 0.1% decrease in the previous month to an increase of 0.6%. Among them, food prices rose by 2.8%, an increase of 2.6 percentage points from the previous month, affecting the CPI increase by about 0.62 percentage points.




With the increase in summer trips, the prices of air tickets and hotel accommodation rose by 2.9% and 1.7% respectively; discounts on summer clothing increased, and clothing prices fell by 0.5%. Looking at the country from a year-on-year perspective, the CPI rose by 2.7%, an increase of 0.2 percentage points from the previous month. Among them, food prices rose by 13.2%, an increase of 2.1 percentage points, affecting the increase in CPI by about 2.68 percentage points. Non-food prices have turned unchanged from a 0.3% increase last month. Among non-food products, the price of health care increased by 1.6%, and the price of transportation and communications fell by 4.4%, of which gasoline and diesel prices fell by 15.7% and 17.5% respectively.




1. Year-on-year changes in prices of various goods and services




In July, the prices of food, tobacco and alcohol rose by 10.2% year-on-year, affecting the CPI (Consumer Price Index) by about 3.07 percentage points. In food, the price of livestock meat increased by 61.1%, affecting the increase of CPI by about 2.90 percentage points, of which the price of pork increased by 85.7%, affecting the increase of CPI by about 2.32 percentage points; the price of fresh vegetables increased by 7.9%, affecting the increase of CPI by about 0.19 percentage points; aquatic products A price increase of 4.7% affects the increase of CPI by about 0.09 percentage points; a rise of 1.6% in food prices affects an increase of CPI by about 0.03 percentage points; the price of fresh fruits drops by 27.7%, which affects CPI by about 0.60 percentage points; the price of eggs drops by 14.5%, which affects CPI. A decrease of about 0.09 percentage points.








The prices of the other seven categories rose three times and four fell. Among them, the prices of other supplies and services, medical care, education, culture, and entertainment rose by 5.1%, 1.6%, and 0.3% respectively; the prices of transportation, communications, and housing fell by 4.4% and 0.7%, and the prices of clothing, daily necessities, and services fell by 0.5%. % And 0.1%.




2. The month-on-month changes in the prices of various goods and services




In July, the price of food, tobacco and alcohol increased by 2.0% month-on-month, affecting the CPI increase by about 0.63 percentage points. In food, the price of livestock and meat increased by 7.4%, which affected the increase of CPI by about 0.51%, of which the price of pork increased by 10.3%, which affected the increase of CPI by about 0.46%; the price of fresh vegetables increased by 6.3%, which affected the increase of CPI by about 0.15%; eggs The price increase of 3.1% affects the increase of CPI by about 0.02%; the price increase of aquatic products affects the increase of CPI by about 0.01%; the price of fresh fruit drops by 4.4%, which affects the decrease of CPI by about 0.07%.








The prices of the other seven categories rose by two quarters, three flattened and two fell. Among them, the prices of other supplies and services, transportation and communications rose by 0.8% and 0.3% respectively; the prices of housing, daily necessities and services, and medical care were all flat; the prices of clothing, education, culture, and entertainment fell by 0.5% and 0.2%, respectively.




Note




1. Index explanation




The Consumer Price Index (Consumer Price Index, CPI) is a relative number that measures changes in the price levels of consumer goods and services over time, and comprehensively reflects the changes in the price levels of consumer goods and services purchased by residents.




2. Statistical scope




The consumer price statistical survey covers 8 categories and 262 basic categories, including food, tobacco, alcohol, clothing, housing, daily necessities and services, transportation and communications, education, culture and entertainment, medical care, and other supplies and services consumed by urban and rural residents nationwide. The prices of goods and services.




3. Investigation method




The sampling survey method is adopted to select and determine the survey outlets, and according to the principle of "fixed person, fixed point, and timed", directly send people to the survey outlets to collect the original price. The data comes from more than 88,000 price survey points in 500 cities and counties in 31 provinces (regions and cities) across the country, including shopping malls (stores), supermarkets, farmer's markets, service outlets and Internet e-commerce.




4. Data description




Due to "rounding" reasons, sometimes the total data is the same as the high or low value of the classified data.